The original plan was to do a Nouv 400 to 1 R/S which would then put the Nouv 10,278,851,733 O/S. at a new lower Nouv O/S of 25,697,129 and then give Pura share holders 1 share of the lower 25 million Nouv O/S for every 5 shares or Pura.
This is the way I read the latest news:
The company may decide not do the Nouv R/S. which would process the dividend faster. If the company choses this route.
Pura Shareholders should Get 400 shares of Nouv for every 5 share of Pura or 80 shares of Nouv for every 1 share of Pura!
Here is the latest:
PURA and NOUV originally planned to wait for NOUV to execute a reverse spilt before executing the dividend distribution. While pursuing that objective, it became clear the execution of the reverse split would take some time. As NOUV updates its filings and executes on its business plan with the new cannabis cultivation operation, optimistically, a reverse split of NOUV might not be necessary. So, PURA and NOUV management have explored alternative options. In light of the fact that the common shares of NOUV issued to PURA shareholders will not be immediately free trading and will have to season to be free trading under an exemption from registration, PURA and NOUV have resolved to issue a dividend of preferred shares convertible into common shares. In this way, a dividend of equity can be rapidly issued and the seasoning of shares for exemption can begin. If a NOUV reverse proceeds as originally planned, then shareholders will receive the original allocation of 1 common share for every 5 shares of PURA. If a reverse proves unnecessary, then the conversion of preferred shares into common shares will be adjusted accordingly to affect an equal dividend allocation.
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